Och-Ziff Capital Management warned yesterday that it is facing a criminal investigation over its relationship with Libya’s sovereign wealth fund.

The hedge fund giant disclosed the Justice Department probe in its restated financials. Och-Ziff said it also remains subject to a civil probe by the Securities and Exchange Commission.

According to a report last month in The Wall Street Journal, Och-Ziff is among a number of prominent financial firms under investigation for alleged bribery at the Libyan fund. Others facing scrutiny include Blackstone Group, Goldman Sachs and JPMorgan Chase.

The Och-Ziff investigation “concerns an investment by a foreign sovereign wealth fund in some Och-Ziff funds in 2007 and investments by some of the funds, both directly and indirectly, in a number of companies in Africa,” the hedge fund said. It is “unable to determine how the investigation will conclude” and warned that an “adverse outcome could have a material effect” on it.

Och-Ziff added that it is cooperating with “a number of ongoing regulatory investigations and examinations.”

The hedge fund said it received its first requests for information from the Justice Department in 2011.

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